Independent insurance and reinsurance legacy specialist Compre is certainly keeping itself busy in 2017 – this morning announcing its sixth acquisition of the year.
The company has swooped for the portfolio of Swiss Company
AXA Insurance Ltd, formerly known as Winterthur Swiss Insurance Company.
The business in run-off was underwritten by RW Gibbon (Underwriting Agencies) Ltd and RW Gibbon & Son Ltd from 1962 to 1964. Now, Compre has offered finality for all pools for an undisclosed sum.
“I am extremely pleased to announce our sixth acquisition this year and our third involving the Gibbon pools,” said Nick Steer, Compre’s CEO. “This follows a similar deal with
Swiss Re International SE in January and fulfils our ambition of completing another pool-arrangement transaction this year. It underlines the demand for run-off solutions, and our expertise in providing finality for complex pool arrangements, and further highlights our excellent reputation among large European insurance groups.”
The acquisition is Compre’s 26th portfolio deal and to date Compre has acquired 10 companies in run-off.
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