Compre, an independent legacy specialist, has announced that it has signed agreements to transfer an inwards reinsurance portfolio from AG Insurance SA for an undisclosed sum.
The Belgian insurer’s portfolio is comprised of business in run-off across a range of lines and territories, predominantly in the United States. The transaction, which is subject to approval by the National Bank of Belgium, is Compre’s second with AG, after it acquired AG’s UK branch business in 2017.
“I am extremely pleased to announce the conclusion of our second transaction with AG Insurance SA,” said Will Bridger, chief executive officer of Compre. “Compre has delivered finality across a variety of jurisdictions for this highly reputable and long-established business, further highlighting our excellent reputation among large European insurance groups.”
