Reinsurance legacy specialist Compre has acquired the shares of Gibbon Pools from three companies in a move to enhance its non-life insurance reinsurance offering.
Compre signed three transactions involving Basler Versicherung, Helvetia Swiss Insurance Company and an undisclosed European insurance group.
The independent European group specialises in reinsurance solutions, run-off acquisitions, and management and closure of run-off liabilities.
Compre is set to acquire the entirety of the UK branch liabilities from Basler Versicherung, a subsidiary of Bâloise Holding, which contains its share of the Gibbon Pools.
This follows deals made by Compre in 2017, which saw the privately-owned business acquire the shares in the Gibbon Pools from AG Insurance, AXA Insurance and Swiss Re International.
Will Bridger, CEO of Compre, said: “I am extremely pleased to announce these transactions, consolidating a complex legacy London market pool and delivering true finality for three highly reputable counterparties and in a variety of jurisdictions.”
“My sincere thanks to everyone involved for all their hard work to achieve this great result.”
