Compre acquires €200m in reserves in deals with Euro insurers

Bermuda-based legacy insurer Compre has announced the acquisition of two portfolios of European casualty and motor liabilities valued at €200 million of reserves.

The identities of the international insurance groups were not disclosed. 

Compre said the transactions have been approved by Bermudian and European regulators, allowing Compre’s class 3B Bermudian reinsurer Pallas Reinsurance Company Ltd. to reinsure the reserves across France, Germany, Italy and the Netherlands, providing both clients with economic and operational finality.  

“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,” said Marialuisa Petrella, European claims director, Compre.  

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.”