International non-life legacy business The Carrick Group has confirmed a $40 million credit agreement between its Bermuda-based subsidiary and the Bank of Montreal.
The credit will be used to pursue and execute legacy transactions.
Karl Wall, Chief Executive Officer of Carrick Group said this credit agreement provides access to additional funding that will ultimately enable it continued expansion.
“We look forward to what we hope will be a long and productive relationship with Bank of Montreal,” Wall noted.
Carrick was advised by DLA Piper, and Mayer Brown LLP was advisor to Bank of Montreal.
Wall’s led Carrick as CEO since its inception in 2019 and works alongsaide an experienced senior management team whose members collectively have completed over 50 run-off transactions with liabilities of more than $10 billion.
