Compre set to acquire Covéa

Compre, the Bermuda headquartered international legacy group, has signed agreements to acquire the Irish subsidiary of Covéa, Medical Insurance Company (MIC), which provided general liability insurance covering professional medical malpractice risks. MIC entered into run-off in 2015.

Compre says the transaction represents a further significant step in its ambition to build a centre of excellence for medical malpractice (MedMal) in Europe. The transaction remains subject to appropriate regulatory approvals.

Simon Hawkins, Compre chief executive officer Europe said: “I am delighted to announce our third acquisition of European MedMal legacy liabilities this year. This transaction further demonstrates our client-focused approach, where we worked closely with Covéa to ensure their objectives were realised. We look forward to working with the MIC team and providing best in class claims service to MIC’s policyholders.”