REG - Compre Group Hldgs - Compre completes acquisition of Covéa subsidiary

Lloyds BankingAnnouncement

04/09/2023 10:15

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RNS Number : 2582L  Compre Group Holdings Limited  04 September 2023

 

 

 

Press release

4 September 2023

 

Compre completes acquisition of Covéa subsidiary

 

 

Compre Group Holdings Limited ("Compre"), the Bermuda headquartered
international legacy group, today announces the completion of its acquisition
of the Irish subsidiary of Covéa, Medical Insurance Company DAC (MIC), which
provided insurance policies covering professional medical malpractice risks.
MIC entered into run-off in 2015.

 

The completion of this complex, cross-border, transaction represents a further
significant step in the build out of Compre's centre of excellence for medical
malpractice in Europe, and follows the approved legal transfer of a portfolio
of French medical malpractice liabilities from another European insurer in
July 2023.

 

Simon Hawkins, CEO Europe said: "I am delighted to announce the completion of
this transaction following regulatory approval, and I'd like to thank the
Covéa and MIC teams for their ongoing collaboration. This transaction further
demonstrates our client-focused approach to supporting our partners in
achieving their restructuring objectives."

 

- 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, workers' compensation and US APH. Compre has operations in Bermuda,
Finland, Germany, Malta, Switzerland, UK, the USA and at Lloyd's.

 

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

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