Compre has completed its acquisition with Cinven and British Columbia Investment Management Corporation (BCI), having received all necessary regulatory approvals.
In December 2020, Cinven and BCI agreed to acquire legacy specialist Compre from existing shareholders CBPE Capital, Hudson Structured Capital Management and Compre’s management.
As part of the acquisition, Cinven and BCI will provide the additional capital required to meet the business’s growth plans.
Cinven and BCI are now the majority shareholders alongside Compre’s management team who remain in their roles and as minority shareholders.
Will Bridger, Compre CEO announced that former PartnerRe chief executive, Emmanuel Clarke and former CEO of AXA Belgium Frank Koster will join the board as non-executive directors. He also noted that Clarke will also assume the position of chairman of the group.
Commencing on the acquisition, Bridger says: “I am delighted that all regulatory approvals have now been granted, which allows us to press on with new partners Cinven and BCI toward our ambitious growth.”
He adds: “My thanks again to CBPE for their continuous support since 2015, which enabled us to build a profitable and sustainable business. With Cinven and BCI’s support and investment I look forward to bringing the client-centric approach Compre has built its reputation on across all our markets, making Compre the industry’s legacy partner of choice.”
Recently, Compre appointed Marialuisa Petrella as claims director and Connie Tregidga as group merger and acquisition (M&A) director, both based in London.
