Compre has agreed to acquire Equinox CA Europe, a captive insurer of global engineering and construction conglomerate SNC-Lavalin.
The captive, based in Ireland, insured the activities of SNC-Lavalin’s business in France from 2008 until December last year, when the subsidiary was sold.
The deal marks the company’s first captive purchase and its first transaction in Ireland.
Terms of the transaction are confidential and the completion is subject to regulatory approval from the Central Bank of Ireland.
Commenting on the acquisition Nick Steer, CEO of Compre, said: “I am delighted to announce this latest acquisition, our fourth this year, from a leading group in its field. This is our eleventh company acquisition, which highlights Compre’s technical and creative ability to meet the spectrum of legacy owner needs and to address the issues some entities now face as Solvency II pressures come to the surface.”
He added: “It is further proof of our excellent reputation in the legacy field and Compre is in a strong position and looking forward to further transactions this year and beyond.”
