Compre completes acquisition of Covéa subsidiary

Bermuda-based legacy insurer Compre has completed its acquisition of the Irish subsidiary of Covéa, Medical Insurance Company, which provided insurance policies covering professional medical malpractice risks. MIC entered run-off in 2015.

Compre said the completion of this “complex, cross-border transaction” represented a further significant step in the buildout of Compre’s centre of excellence for medical malpractice in Europe and followed the approved legal transfer of a portfolio of French medical malpractice liabilities from another European insurer in July 2023.

Simon Hawkins, CEO Europe said: “I am delighted to announce the completion of this transaction following regulatory approval, and I’d like to thank the Covéa and MIC teams for their ongoing collaboration.

“This transaction further demonstrates our client-focused approach to supporting our partners in achieving their restructuring objectives.”