Carrick secures $40 million funding for legacy transactions

Bank of Montreal has agreed to provide Bermuda-based Carrick Holdings with funding of up to $40 million, according to its parent Carrick Specialty Holdings LLC. The money will fund future legacy transactions, it said.

“This credit agreement provides access to additional funding to help drive Carrick Group’s continued expansion. We look forward to what we hope will be a long and productive relationship with Bank of Montreal,” said Karl Wall, Carrick chief executive officer.

Wall founded the non-life legacy business in 2019, after a career in run-off business, that saw him serve eight years as president and CEO of Enstar (US) Inc.