Compre has acquired Wüstenrot & Württembergische’s (W&W) Ridgwell Fox & Partners pool legacy reinsurance business, for an undisclosed sum.
Ridgwell Fox & Partners is a reinsurance pool containing run-off liabilities of W&W and five additional carriers.
This follows Compre’s previous acquisitions of QBE’s and Allianz IARD’s Ridgwell Fox & Partners legacy reinsurance business last year.
The purchase provides W&W complete finality regarding its involvement with Ridgwell Fox & Partners.
Nick Steer, CEO of Compre, said: “I am extremely pleased to announce our third acquisition of this year and our third involving a German counterparty, which highlights an increasing acceptance of business transfers as a viable solution available to owners of legacy portfolios across Europe.”
Earlier this month, Compre also acquired an insurance and reinsurance business in run-off at Swiss Re International in Luxembourg, as well as the UK branch of AG Insurance SA, an insurance and reinsurance business in run-off.
