REG - Compre Group Hldgs - Compre acquires two European liability portfolios

Lloyds BankingAnnouncement

10/01/2024 10:00

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RNS Number : 2350Z  Compre Group Holdings Limited  10 January 2024

 

Press release

10 January 2024

 

Compre acquires two European liability portfolios

 

Compre Group Holdings Limited ("Compre"), the Bermuda-domiciled international
legacy group, today announces the acquisition of two portfolios of European
casualty and motor liabilities from separate undisclosed international
insurance groups.

 

All necessary approvals have been granted by Bermudian and European
regulators, allowing Compre'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 said "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 said "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."

 

- Ends -

 

For further information please contact:

Compre

David Haggie / Richard Adams / Olivia Thomson, Haggie
Partners

+44 20 7562 4444

 

About Compre:

Compre is a leading legacy specialist with over 30 years of experience in the
acquisition and management of discontinued and legacy non-life insurance and
reinsurance business. Compre has experience of acquiring most classes of
direct and reinsurance business, including general liability, marine and motor
liability, and US APH. Compre has operations in Bermuda, Finland, Germany,
Ireland, Malta, Switzerland, the UK and at Lloyd's.

 

www.compre-group.com (http://www.compre-group.com)

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