Compre finalises Covéa acquisition

Bermuda-based Compre has completed its acquisition of CSE Group, a US-based subsidiary of French mutual insurance group Covéa, marking the firms’ second legacy transaction in 24 months.

The CSE Group includes two California-domiciled personal lines insurance carriers that ceased to underwrite new business in 2024. 

This is the second transaction between Covéa and Compre, which buys legacy portfolios of non-life insurance and reinsurance risks from other re/insurers.

In 2022, Compre announced it was buying Covéa's Irish subsidiary MIC, which provided general liability insurance covering professional medical malpractice risks and had entered into run-off in 2015. That deal closed in September 2023.

Compre's largest deal to date remains acquiring approximately $1.3 billion of net reserves from Bermuda-based specialty re/insurer SiriusPont in 2023.

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