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06 January 2017
London
Reporter Becky Butcher

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.”

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