Compre Group Holdings Limited Compre completes acquisition of Covéa subsidiary (2582L)

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RNS Number : 2582L

Compre Group Holdings Limited

04 September 2023

Press release

4 September 2023

Compre completes acquisition of Cov é a subsidiary

Compre Group Holdings Limited ("Compre") , the Bermuda headquartered international legacy group, today announces the completion of its acquisition of the Irish subsidiary of Covéa, Medical Insurance Company DAC (MIC), which provided insurance policies covering professional medical malpractice risks. MIC entered into run-off in 2015.

The completion of this complex, cross-border, transaction represents a further significant step in the build out of Compre's centre of excellence for medical malpractice in Europe, and follows the approved legal transfer of a portfolio of French medical malpractice liabilities from another European insurer in July 2023.

Simon Hawkins, CEO Europe said: "I am delighted to announce the completion of this transaction following regulatory approval, and I'd like to thank the Covéa and MIC teams for their ongoing collaboration. This transaction further demonstrates our client-focused approach to supporting our partners in achieving their restructuring objectives."

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For further information please contact:

Compre

David Haggie / Richard Adams / Olivia Thomson, Haggie Partners

+44 20 7562 4444

About Compre:

Compre is a leading legacy specialist with over 30 years of experience in the acquisition and management of discontinued and legacy non-life insurance and reinsurance business. Compre has experience of acquiring most classes of direct and reinsurance business, including general liability, marine and motor liability, workers' compensation and US APH. Compre has operations in Bermuda, Finland, Germany, Malta, Switzerland, UK, the USA and at Lloyd's.

www.compre-group.com

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