Independent insurance and reinsurance legacy specialist Compre is taking a piece of Ireland for the first time, with its purchase of captive insurer Equinox CA Europe.
The acquisition, Compre’s fourth so far this year, also marks the first time it has bought a captive. Equinox CA Europe is the captive insurer of global engineering and construction conglomerate SNC-Lavalin.
Compre said the Ireland-based captive insured the activities of SNC-Lavalin’s business in France from 2008 until December 2016 when the subsidiary was sold.
“This is our 11th company acquisition, which highlights Compre’s technical and creative ability to meet the spectrum of legacy owner needs and to address the issues some entities now face as Solvency II pressures come to the surface,” said Compre CEO Nick Steer.
Meanwhile, completion of the acquisition is subject to regulatory approval from the Central Bank of Ireland. Terms of the deal are confidential.
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