Compre has announced it has agreed to acquire Allianz
IARD’s Ridgewell Fox & Partners (RFP) pool legacy reinsurance business for an undisclosed sum, its fourth acquisition of the year.
The deal is structured as a loss portfolio transfer followed by a legal business transfer, and is now awaiting the relevant approvals.
CEO of Compre Nick Steer said the acquisition highlights the increased appetite in Europe for legacy services.
“This transaction further demonstrates Compre’s reputation as a trusted partner, able to provide tailored legacy solutions for large and well-established (re)insurance companies,” he said. “It also underlines our ability to provide complete finality for complex pool arrangements and we hope to complete further transactions of this type during 2016.”
In March, Compre acquired QBE
’s RFP legacy reinsurance business. This year Compre has also acquired a German mutual insurer and a legacy portfolio from Norwegian insurer Gjensidige Forsikring ASA.