Compre buys business in run-off
Compre has agreed to acquire the UK branch of AG Insurance SA, an insurance and reinsurance business in run-off, for an undisclosed figure.
The purchase is structured as a loss portfolio transfer, to be followed by an insurance business transfer, and is subject to approvals in Belgium, Finland and the UK.
Nick Steer, CEO of Compre, said: “I am extremely pleased to announce our first acquisition of the year and our first involving a Belgian counterparty. This further enhances our reputation as a provider of legacy solutions across the European market and I look forward to further deal flow during the next year.”
