Compre completes legacy deal with Belgian insurance major

Legacy specialist Compre has completed the transfer of European motor and casualty liabilities from Ethias, Belgium’s third-largest insurer.

Regulators in Belgium, France, the Netherlands, Germany, and Finland have all approved the deal, enabling Compre’s European carrier, Bothnia International, to fully assume the Ethias portfolio.

The transfer follows a 2023 loss portfolio deal with Ethias, covering around €140 million in European Union reserves.

Simon Hawkins, group chief operating officer, Compre said: “I am extremely pleased to announce the completion of this transfer following a successful collaboration with Ethias, who we have worked closely with since the LPT in 2023. 

“This transfer demonstrates how our experience in the European liability market and our ability to provide full finality continues to be valued by our clients. The support of several European regulators for this multi-jurisdictional insurance business transfer once again demonstrates the effectiveness of this solution.”

Wilfried Neven, director and deputy CEO of Ethias, added: “We are pleased to have completed the last step in the discontinuation of our international portfolio, allowing us to fully focus on growth in our local market. We would like to thank Compre for their efficient and close collaboration in bringing this process to a successful conclusion.”

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